Let the iPhone 6
speculation begin.

Apple is kicking off
production on a new
iPhone in the coming
months and could
announce the device this
summer, according to a
report in The Wall Street
Journal.

The phone
would have the same
size and shape as the
iPhone 5, and Apple
might also be working on
a cheaper model to sell in
developing countries, the
report said.
The Journal story
contained no details
about what features the
next iPhone might
contain, although each
new iPhone model has
historically boasted a
more powerful processor
and an upgraded camera.
It wouldn't be shocking
for Apple to release an
iPhone in the summer.

The company has
released a new iPhone
model every year since
the device debuted in
2007, and the release
dates have all been in the
summer or fall. The
iPhone 5 came out in
September 2012, the
iPhone 4S in October
2011, and the three
versions before that in
the summer months.
One possible launchpad
for the as-yet-unnamed
new device could be
Apple's annual
Worldwide Developers
Conference, typically held
each June in San
Francisco. Exact dates for
WWDC 2013 have not
been announced.

The Journal report's more
interesting nuggets are
about the cheaper, more
colorful iPhone version.

The report says Apple
has been "working on
different color shells" for
the less expensive model.

There have been
rumblings about a
cheaper iPhone for a
while now. The company
has often put quality
above affordability, but to
be competitive in the
booming Asia and South
America markets, it will
need to drop the price of
its lower-end phones.
Older, less expensive
iPhone versions continue
to sell well but are still
pricey when compared
with the array of cheap
Android handsets.
The Wall Street Journal
cites people "familiar with
the device's production"
as sources for its report.
These periodic crumbs of
leaked information about
Apple launches may help
the company, which
presents itself as
extremely secretive about
future products. Such
occasional Apple rumor
stories keep the iPhone in
the minds of smartphone
buyers and could
influence their decisions
about what phone to buy
next.
It's been six months since
Apple released a major
new product, and as
Fortune recently noted,
its fans may be growing
restless. Apple may also
feel pressure to release a
new iPhone soon to
compete with archrival
Samsung, whose
popular Samsung Galaxy
S line has emerged as a
credible competitor.

Reports of new products
also would probably look
good to Apple investors.